Level 3 Communications, Inc. (LVLT) Position Increased by Capital Fund Management S.A.

Capital Fund Management S.A. boosted its holdings in shares of Level 3 Communications, Inc. (NYSE:LVLT) by 11.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,740 shares of the technology company’s stock after purchasing an additional 5,719 shares during the quarter. Capital Fund Management S.A.’s holdings in Level 3 Communications were worth $3,365,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of LVLT. Cleararc Capital Inc. increased its stake in Level 3 Communications by 0.7% in the 1st quarter. Cleararc Capital Inc. now owns 7,147 shares of the technology company’s stock worth $409,000 after acquiring an additional 50 shares during the last quarter. Capstone Asset Management Co. increased its stake in Level 3 Communications by 0.3% in the 2nd quarter. Capstone Asset Management Co. now owns 21,215 shares of the technology company’s stock worth $1,258,000 after acquiring an additional 60 shares during the last quarter. Private Advisor Group LLC increased its stake in Level 3 Communications by 1.1% in the 1st quarter. Private Advisor Group LLC now owns 6,516 shares of the technology company’s stock worth $377,000 after acquiring an additional 68 shares during the last quarter. MAI Capital Management increased its stake in Level 3 Communications by 1.7% in the 2nd quarter. MAI Capital Management now owns 5,314 shares of the technology company’s stock worth $315,000 after acquiring an additional 90 shares during the last quarter. Finally, ING Groep NV increased its stake in Level 3 Communications by 0.4% in the 2nd quarter. ING Groep NV now owns 22,545 shares of the technology company’s stock worth $1,337,000 after acquiring an additional 93 shares during the last quarter. 98.74% of the stock is currently owned by institutional investors.

Level 3 Communications, Inc. (LVLT) opened at 53.62 on Wednesday. Level 3 Communications, Inc. has a 52-week low of $44.01 and a 52-week high of $64.61. The company has a market cap of $19.45 billion, a P/E ratio of 30.50 and a beta of 1.23. The stock’s 50 day moving average price is $55.64 and its 200 day moving average price is $58.21.

Level 3 Communications (NYSE:LVLT) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.39 by $0.03. Level 3 Communications had a return on equity of 5.80% and a net margin of 7.85%. The firm had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Analysts expect that Level 3 Communications, Inc. will post $1.43 earnings per share for the current year.

In other Level 3 Communications news, SVP Eric Mortensen sold 1,189 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $59.10, for a total transaction of $70,269.90. Following the completion of the sale, the senior vice president now owns 77,944 shares of the company’s stock, valued at $4,606,490.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John Michael Ryan sold 5,927 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $59.10, for a total value of $350,285.70. Following the sale, the executive vice president now directly owns 144,994 shares of the company’s stock, valued at approximately $8,569,145.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,224 shares of company stock valued at $1,668,038. 0.53% of the stock is owned by insiders.

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A number of analysts have issued reports on LVLT shares. Zacks Investment Research downgraded Level 3 Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. BidaskClub downgraded Level 3 Communications from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Barclays PLC reaffirmed an “equal weight” rating and issued a $59.00 price objective (down previously from $61.00) on shares of Level 3 Communications in a research note on Friday, July 14th. Finally, UBS AG reaffirmed a “buy” rating and issued a $68.00 price objective (down previously from $71.00) on shares of Level 3 Communications in a research note on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. Level 3 Communications has an average rating of “Hold” and a consensus price target of $61.67.

About Level 3 Communications

Level 3 Communications, Inc is a provider of a range of integrated communications services. The Company’s operating segments include North America, EMEA and Latin America. The North America includes operations in Atlanta, Georgia; Littleton, Colorado; Miami, Florida; Montreal, Canada; New York, New York; Phoenix, Arizona; Pittsburgh, Pennsylvania; Southfield, Michigan, and Tulsa, Oklahoma.

Institutional Ownership by Quarter for Level 3 Communications (NYSE:LVLT)

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